Wells Fargo & Company MN reduced its holdings in Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 14.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 253,209 shares of the medical equipment provider’s stock after selling 43,287 shares during the quarter. Wells Fargo & Company MN owned 0.32% of Align Technology worth $53,402,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Align Technology by 12.1% in the third quarter. Vanguard Group Inc. now owns 8,213,345 shares of the medical equipment provider’s stock worth $1,701,067,000 after purchasing an additional 889,705 shares in the last quarter. Parnassus Investments LLC lifted its position in Align Technology by 943.5% during the 4th quarter. Parnassus Investments LLC now owns 466,281 shares of the medical equipment provider’s stock worth $98,339,000 after buying an additional 421,598 shares in the last quarter. Sands Capital Management LLC boosted its stake in shares of Align Technology by 14.9% during the 4th quarter. Sands Capital Management LLC now owns 2,660,870 shares of the medical equipment provider’s stock worth $561,177,000 after buying an additional 345,647 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Align Technology by 83.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 534,290 shares of the medical equipment provider’s stock valued at $112,682,000 after acquiring an additional 243,581 shares in the last quarter. Finally, Bares Capital Management Inc. increased its position in shares of Align Technology by 32.3% in the third quarter. Bares Capital Management Inc. now owns 913,324 shares of the medical equipment provider’s stock valued at $189,159,000 after acquiring an additional 223,091 shares during the last quarter. Institutional investors and hedge funds own 84.90% of the company’s stock.
Insider Buying and Selling
In other Align Technology news, Director Kevin J. Dallas bought 7,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was purchased at an average cost of $285.26 per share, for a total transaction of $1,996,820.00. Following the completion of the purchase, the director now directly owns 12,246 shares of the company’s stock, valued at $3,493,293.96. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.64% of the stock is currently owned by company insiders.
Align Technology Price Performance
Align Technology (NASDAQ:ALGN – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The medical equipment provider reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.02). Align Technology had a return on equity of 11.18% and a net margin of 8.51%. The firm had revenue of $943.15 million for the quarter, compared to the consensus estimate of $908.29 million. On average, sell-side analysts anticipate that Align Technology, Inc. will post 6.8 EPS for the current fiscal year.
Analysts Set New Price Targets
ALGN has been the subject of a number of analyst reports. Bank of America raised their price target on Align Technology from $190.00 to $225.00 in a research note on Thursday, April 27th. Piper Sandler raised their target price on shares of Align Technology from $360.00 to $370.00 in a research note on Thursday, April 27th. Stifel Nicolaus raised their price objective on Align Technology from $375.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, April 18th. StockNews.com assumed coverage on Align Technology in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, CICC Research started coverage on shares of Align Technology in a research report on Thursday, March 23rd. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $347.78.
Align Technology Company Profile
Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.
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